Home | FAQs | DME Brent Crude Oil Financial Contract (ZO)

Last Updated: 11/11/2008

• About the DME
• Membership
• Trading on the DME
• DME Oman Crude Oil Futures Contract (OQ)
• DME Brent Crude Oil Financial Contract (ZO)
• DME Oman Crude Oil Financial Contract (ZG)
• Information Technology
• Legal, Counterparty Risk, Clearing & Settlement

Q. What is the DME Brent Crude Oil Financial Contract size?
A.  The contract size is 1,000 U.S. barrels.

Q. What are the contract trading months?
A. Up to 78 months will be listed, including 72 consecutive months and June and December contracts for 3 additional years.

Q. How is the settlement price determined?
A. The daily settlement price will be equal to the price determined by ICE for the Brent Crude Futures Contract for the corresponding delivery month.

Q. What are the Price Fluctuation Limits and Price Limits for the DME Brent financially settled futures Contract?
A. The minimum price fluctuation is 1 cent ($0.01) per Barrel. There is no maximum price fluctuation limit.

Q. When does the DME Brent Crude Oil Financial Contract expire?
A. Trading on the DME Brent Crude Oil Financial Contract ceases at the close of Trading Day immediately preceding the fifteenth day prior to the first day of the delivery month if the fifteenth day is a London Business Day, otherwise trading shall cease on the Trading Day immediately preceding the first London Business Day prior to that fifteenth (15th) day.